bankrupt

bankrupt, adj. Indebted beyond the means of payment; insolvent. — Also spelled (archaically) bankerout; bankrout. — bankrupt, vb.

bankrupt, n.

1. A person who cannot meet current financial obligations; an insolvent person. • This term was used in bankruptcy statutes until 1979, and is still commonly used by nonbankruptcy courts. But the Bankruptcy Code uses debtor instead of bankrupt.

2. DEBTOR(2).

cessionary bankrupt. Archaic. A person who forfeits all property so that it may be divided among creditors. • For the modern near-equivalent, see CHAPTER7. [Cases: Bankruptcy 2221. C.J.S. Bankruptcy § 45.]

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资深译员Paloma，毕业于亚洲一流的翻译学院，擅长翻译各类与境外投资相关的法律文件。